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All Journal Jurnal Mantik Husnayain Business Review International Journal of Islamic Business and Management Review
Driyastutik, Windari
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Arts Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Languange, Linguistic, Communication & Media Social Sciences

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Human capital, unemployment, FDI, labor productivity and gross domestic product Indrajaya, Danang; Driyastutik, Windari
Jurnal Mantik Vol. 8 No. 1 (2024): May: Manajemen, Teknologi Informatika dan Komunikasi (Mantik)
Publisher : Institute of Computer Science (IOCS)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35335/mantik.v8i1.5075

Abstract

The economic performance of a country can be evaluated by looking at Gross Domestic Product, which is considered one of the most significant measurement. The factors that drive economic growth are Human Capital, Unemployment, FDI, and Labor Productivity. China, Japan, South Korea, India and Australia have important roles not only in their strategic location but also rapidly developing into regional economic centers in the world. The purpose of this study was to analyze the effect of Human Capital, Unemployment, FDI, Labor Productivity on Gross Domestic Product in these countries of China, Japan, South Korea, India and Australia using cross section data for 10 years from 2010 to 2019. The results show that Human Capital and FDI have a positive and significant effect on Gross Domestic Product. While other variables have no significant effect on Gross Domestic Product. These findings show that the key factors influencing economic growth are investments in education, training, human resource development, and foreign direct investment
Enhancing Sharia Stock Performance Through Board Commissioners’ Characteristics: The Moderating Role of Educational Level Driyastutik, Windari; Mochamad Edman Syarief; Hendi Rohendi
International Journal of Islamic Business and Management Review Vol. 5 No. 1 (2025)
Publisher : Asosiasi Dosen Peneliti Ilmu Ekonomi dan Bisnis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54099/ijibmr.v5i1.1364

Abstract

Purpose – This study aims to analyze the influence of the characteristics of the Board of Commissioners on sharia stock returns and explore the role of moderation of education levels in this relationship. Methodology/approach – The research method used is the regression of panel data with the Feasible Generalized Least Squares (FGLS) model. This study involves variables such as the number of board of commissioners, the frequency of meetings, the proportion of the board of commissioners, the level of education, age of members of the board of commissioners, and control variables in the form of company characteristics and macroeconomic factors, namely inflation. Findings – The results showed that the characteristics of the Board of Commissioners as a whole had no significant effect on sharia stock returns, both directly and as moderation variables by the level of education, which showed that the performance of sharia issuers was more influenced by other factors. In addition, the negative relationship between the age of the Board of Commissioners and stock returns underline the importance of a balance between experience and innovation in improving the performance of sharia issuers. These findings provide insight for sharia issuers to involve all stakeholders in strategic decisions. Novelty/value – This study shows experience alone is not enough, but innovation and adaptation to the development of digital technology is also important in the performance of the company's shares.
The Political Economy of Fiscal Resilience: Evidence from Best Practices in Local Government Liquidity Management Indrajaya, Danang; Kusuma, Anak Agung Ngurah Agung Chandra Nanda Kusuma; Al-Banna, Muhammad Fikri; Driyastutik, Windari
Husnayain Business Review Vol. 6 No. 1 (2026)
Publisher : Asosiasi Dosen Peneliti Ilmu Ekonomi dan Bisnis Indonesia (ADPEBI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54099/hbr.v6i1.1780

Abstract

Purpose – This study interrogates a critical yet underexplored phenomenon in subnational finance: the accumulation of local government funds in commercial banks. Moving beyond conventional interpretations of such balances as mere fiscal imbalances, we rigorously examine whether these reserves reflect deliberate liquidity management strategies or systemic governance failures. Methodology/approach – Through a systematic literature review synthesizing global references, we analyze the tension between transparency imperatives in public financial management and the realities of local political pressures. Employing a comparative analytical framework, we integrate insights from fiscal resilience theory, cost stickiness behavior, and digital transformation in the public sector. Findings – Our findings reveal that fund accumulation often constitutes a rational response to rigid expenditure structures and serves as a strategic fiscal buffer against macroeconomic uncertainty. However, the efficacy of this buffer is critically undermined by information asymmetries arising from political connectedness and creative accounting practices, distortions that compromise managerial decision-making and fiscal accountability. Notably, jurisdictions embracing Environmental, Social, and Governance (ESG) principles alongside Technology-Organization-Environment (TOE) frameworks demonstrate significantly higher budget absorption efficiency and public value creation. Novelty/value – This research contributes a nuanced political economy perspective to fiscal resilience literature, offering policymakers evidence-based pathways to transform idle balances into instruments of sustainable local development, without succumbing to political capture or fiscal opacity.
Co-Authors Al-Banna, Muhammad Fikri Danang Indrajaya Hendi Rohendi Kusuma, Anak Agung Ngurah Agung Chandra Nanda Kusuma Syarief, Mochamad Edman